A foundation stone laying ceremony has been held at the construction site of the Eastern Petrochemical Company outside Nakhodka. Construction work, which is being carried out by Rosneft, was formally launched by Russian President Vladimir Putin.

The petrochemical facility will produce polypropene, high and low density polyethylene, monoethylene glycol and other petrochemical products. Annually, it will process 3.4 mln tonnes of feedstock supplied by Rosneft’s Achinsk and Komsomolsk refineries and the Angarsk Petrochemical Company. Some of the Eastern Petrochemical Company’s facilities will have higher capacity than similar units elsewhere in the world. For instance, the plant’s pyrolysis unit will produce 1.4 million tonnes of ethylene a year. In terms of capacity, it will be unrivalled globally.

Technologies for the plant will be licensed from leading world-class specialist companies to ensure the facility’s technical prowess and safety. Particular attention was paid to environmental issues as early as at the design stage.

The complex is located close to fast-growing South-East Asian markets and has its own sea terminal in an ice-free port.

Construction of the facility will give a strong boost to the regional economy with a multiplier effect increasing tax returns at all levels. Thousands of new jobs will be created at the plant as well as in related sectors with the region reaping corresponding social benefits.

Rosneft Information Division September 6, 2012